Mo. House passes $1.2 billion bonding initiative

JEFFERSON CITY, Mo. (AP) -- The Missouri House has passed a $1.2 billion bonding initiative that would finance construction and repairs at public buildings across the state.

The House's 136-23 vote sends the measure to the Senate. But with only one week remaining in the legislative session, the proposed constitutional amendment appears unlikely to win final approval. If it did, the measure would go before voters in 2014.

Supporters cite a backlog of building needs at state facilities and note that low interest rates make this a good time to borrow money.

The plan would devote $600 million to projects at higher education institutions, $200 million for new mental health facilities, $100 million for the state Capitol, $40 million for state parks and $20 million for loans to public school districts.